Key Employee Retention Plan. About 4 mil divided between 121 employees (avg 30K) vesting in 2023.
Also, consider what it means if you're not.
See Docket 421, dated yesterday.
31 replies (most recent on top)
@8mby+1hteC2Fj Someone else is leaving in two days and does not share this sentiment.
If this company comes out of Chapter 11 for the millionth time. You we have to deal with HG and JP as the VP's . Good luck!
2 more days left and I will waive bye bye to SG and those useless m0r0ns.
Stop posting and start working! Let’s shove this R2CHotsite terd down the customers throat!
- MIAH
Is the rat faced POS still with the company?
@7cjh+1hteC2Fj Do you mean the "I barely tolerate you people" call, where he spoke to us like unwanted stepchildren? Sure, I vaguely remember that. I also remember thinking "...who?" when the call was announced, which may demonstrate how KERPy JP really is.
Another third-wheel VP.
@7jfh+1hteC2Fj Glad you see the light. Do you remember all the hands on deck call from JP a few weeks ago? Just to bolster the company for a sale or putting a lipstick on a pig.
Reading the KERP motion itself, it's pretty clear that this strategy is intended primarily as a way to bolster the company through the sales process, rather than some long term strategy aimed ultimately at restructuring and reorganization. Still left wondering how many are simply oblivious to the ramifications of this for their livelihoods.
@6nkh+1hteC2Fj All those linkedin posts are hilarious, you could start a betting pool with over/under on how few likes SG receives. Even the offshore gang is barely participating anymore, save for a few bootysmoochers on both sides of the field. Maybe thoughts and prayers will save their careers?
For a good laugh check out HG post on linked from 3 weeks ago … he reposted another link which says “start with the customer experience and work backWard for the technology”
Maybe practice what you preach??
I remember when they replaced the sme’s who had 15 years experience and intimate knowledge of the clients dr plan with the sme’s in india who were “freshies” and knew nothing about DR … i used to get direct calls after a conf call from the client asking what the f is going on?
'They still have the SME’s in india??'
Indeed they do & they're glorified secretaries. They don't have the least bit of knowledge to discuss technical issues. Granted, it's not a wholly technical role, but it's to the point now that SME's simply forward tasks for someone else to discuss - they aren't technical enough to even know what questions to ask.
They still have the SME’s in india?? Lolololololol
Docket 421 names three job titles that KERP is designated for. Solutions Engineers, Account Executives and India based account owners (SME)?
@1wkx+1hteC2Fj small crumbs were forgotten already.
Thank god we have some method of retaining sales people to sell things no one wants (not that they understand what they're selling anyway), along with PMs whose primary goal seems to be tanking the company even faster. Goodnight, you princes of Wayne...you kings of New Delhi!
@1tur+1hteC2Fj how do you know the KERP isn't just for upper-management? I mean, ~100+/- individuals would be just about everyone in the C-suite, wouldn't it?
If you're still wondering what this is -
https://cases.ra.kroll.com/SungardAS/Home-DocketInfo#422
Scroll to #421 dated 6/28/2022
Emergency Motion...Approving the Debtors Key Employee Retention Program
@1gtn+1hteC2Fj It means some people (just over 100 individuals) are getting a retention bonus and you're likely not.
Also, if I were buying this hot mess in July's upcoming sale (days away folks), I'd definitely take into account who is on that list (individuals deemed as too critical to lose) when considering who I would keep (minus anyone in upper management) on after such a sale.
Can someone explain exactly what this is? Is it a payout to certain teams if the US goes under?
On closer inspection I believe I'm not. Mostly for management, as usual. Makes sense.
@1jva+1hteC2Fj don't you remember the crumbs so reluctantly tossed your way in the early months of the pandemic?
Not getting the KERBs so you can kiss my a$$ goodbye!
TLDR; DCops were not included. So much as a thanks for working and being hands and feet for everyone during the pandemic.
The rest ultimately get the CURBs program: Cost Unfortunate Restructuring Boot!
Oops… meant KERPs. Big fingers on a little screen.
The keeps range from 5k to +100K. Even if you are in it, it doesn’t take very many 100K KEEPs for everyone else to just get a pittance. Of course the ELT probably gets millions when the sale is successful, unless those have already been paid out.
Yes, you are greatly valued.
Many are called, few are chosen.
If you do not already know. You are not.
@idr+1hteC2Fj aww thank you. I needed that.
You should be. You're more than worth it.
...not..sure